Two and a half years ago, (how time flies!) In November 2, ING announced its new rates for its Orange Broker. As I already denounced in its day, what ING announced as a drop in commissions had a trick and ended up hurting small savers.
ING Direct has just introduced new rates in its “Orange Broker” service in April 2015. As I always say, one of the aspects that every investor in the stock market must take care of in order not to damage the profitability that is so difficult to obtain is to keep commissions at bay . Therefore, once again, I have decided to analyze the rates to see whether or not there is a cat locked up.
In this article I will give you my opinion on the new commissions of the ING Direct Orange Broker. We will also see through a comparative analysis how this rate change affects our operations.
Commissions in the Spanish market with ING Direct's Orange Broker
ING Direct Orange Broker commissions on the Spanish stock market (click to enlarge)
Commissions in the European market with ING Direct's Orange Broker
ING Direct Orange Broker commissions on the European stock market (click to enlarge)
Commissions in the American market with ING Direct's Orange Broker
ING Direct Orange Broker commissions on the American stock market (click to enlarge)
Comparison of the new rates of ING Direct's Orange Broker (April 2015) with the old ones
Comparison of fees for trading on the Spanish stock market
Comparison of the rates on the Spanish stock market of the ING Direct Orange Broker (click to enlarge)
Comparison of fees for trading on the European stock market
Comparison of ING Direct's Orange Broker European exchange rates (click to enlarge)
Comparison of fees for trading on the American stock market
Comparison of the rates on the American stock exchange of the ING Direct Orange Broker (click to enlarge)
I leave you the link with the detailed ING broker fees.
Well done, ING
Two and a half years ago I was very critical of ING for its rate change:
“Months ago, the Orange Broker introduced the obligation to carry out at least one operation each semester to preserve the gratuitousness of the custody of securities. It is an acceptable condition, but it was a deterioration in service. With the change of November 12, ING will continue its trend of worsening service, at least with regard to investors with less equity or those seeking greater diversification. "
However, as I said, it was still a good option:
“Despite all this, for the moment I will continue to be an ING client, since, despite its changes for the worse, the Orange Broker continues to be a good alternative for long-term investment due to the possibility of avoiding commission fees. custody. However, many small equity shareholders may decide to look for better alternatives. "
This time the rate change represents a substantial improvement for ING Direct's Orange Broker clients. Therefore, from here I take the opportunity to congratulate the company for the changes.
However, although I am relatively satisfied, the service can still improve.
How can (and should) the ING Orange Broker improve?
In my opinion, ING's Orange Broker can and should improve in 3 aspects to become the reference broker for any value investor:
- In the first place, end the imposition of carrying out an operation every six months to avoid the custody commission. It is true that practically all investors carry out several operations per semester, so in principle it would be rare to have to pay this commission. However, although it is not important, it is something that can be improved.
- Second, increase the number of markets and shares that we can access through its trading platform. It is true that through ING we can buy shares in the main world markets. However, it will be very interesting to be able to buy stocks from emerging markets, especially those from Asia and South America.
- Finally, it would also be interesting to be able to contract with the main investment fund managers through the ING platform, both Spanish (Bestinver, Magallanes, Metagestión, etc.) and international (Fidelity, Pimco, JP Morgan, etc.). In this way, investors would have more variety of assets to diversify our assets.
My opinion on ING Direct's Orange Broker
After analyzing the new rates, my opinion is that ING's Orange Broker is still recommended, but it is far from perfect.
I hope that ING colleagues take note and continue to improve the service to become the reference broker in Spain that, to this day, does not yet exist.